Re­gional Cen­ter of NDB Launched

ChinAfrica - - News Roundup -

The New De­vel­op­ment Bank (NDB) on Au­gust 17 launched its Africa Re­gional Cen­ter in Jo­han­nes­burg, with South African Pres­i­dent Ja­cob Zuma pre­sid­ing over the pro­ceed­ings.

Zuma hailed the launch as a his­tor­i­cal event and the foun­da­tion of BRICS com­mit­ment to the de­vel­op­ment of the African con­ti­nent and emerg­ing mar­kets. The NDB has dis­bursed the first set of loans amount­ing to $1.5 bil­lion. Zuma said this is a sig­nif­i­cant step for­ward to­gether with other achieve­ments like the bank’s first bond is­suance in the Chi­nese cap­i­tal mar­ket, mo­bi­liz­ing about $450 mil­lion.

“We ex­pect that the bank, through the

Newspapers in English

Newspapers from China

© PressReader. All rights reserved.